A great way to make sure you don’t miss any payments is to set up your bills to be paid automatically through your bank. Most utilities, cable companies, and phone companies offer this payment option, and it’s a great way to make sure you don’t miss any payments.

Making all of your payments on time is very important, because late payments can have a negative effect on your credit score.

If you don’t want an automatic payment, it is also possible to pay your bills on-line, on the date due. For example, if your hydro bill is due on the 20th of this month, set up your on-line banking to pay the bill on the 20th of this month. Your payment is made on time, but the money stays in your account until the exact due date, so you may earn some extra interest.

Be careful with this, however, because if you’re not monitoring your account regularly, you could find yourself becoming overdrawn and hit with multiple overdraft fees from your bank.